Natural monopoly Select one: a. does not compete with small competitive producers of the same good...
Natural monopoly Select one:
a. does not compete with small competitive producers of the same good
b. is a monopoly in the market for natural resources
c. emerges when average total cost is minimized if only one firm produces the good
d. is inefficient since it total costs are not minimized
Homework Answers
ANswer
Option C
c. emerges when the average total cost is minimized if only one firm produces a good
A natural monopoly has a lower average total cost of the good compared to two firms producing the same good. The average total cost curve decreases as the output increases, and it has large economies of scale so the monopoly is naturally cannot be defeated by a new entry.
Add Answer to:
Natural monopoly Select one:
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Perfectly competitive and monopoly firms are complete opposites. The monopoly demand curve is ___ while the...
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The monopoly demand curve is ___ while the perfectly competitive
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producer in an industry, so the monopoly firm’s ___ curve is the
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Perfectly competitive and monopoly firms are complete
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The monopoly demand curve is ___ while the perfectly competitive
firm’s demand curve is ___. This is because a monopoly is the only
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same as the market demand curve, while the perfectly competitive
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